Tehran, YJC. Deputy Oil Minister says Iran needs to allocate $1 billion a month to the South Pars oil field and that each day the expansion operations halted will cost $100 million.

The
Deputy Oil Minister Roknoddin Javadi speaking about the 11th
administrations plans for the South Pars oil and gas fields said that $25
billion is needed to complete the projects underway by two years, adding "In
other words, $1 billion must be spent from monetary and credit sources per
month in order to accomplish South Pars development plans.”

Also
the ECO of the National Oil Company, Javadi pointed out that as the acting
agent in the development of the South Pars, the Oil and Gas Company needs to
plan and decide on $35 million per day so that the monetary facilities are gone
into the projects on time.

He
further stated "If each phase of the South Pars makes $2.5 billion a year, the
total of 12 un-expanded phases must make $30 billion per year.”

He
added that divided by the number of days ahead, each day the operations delayed
would mean that the country has to spend $35 million and add $100 million to
the country’s revenue.